Demand For Electronic Devices Drives The Thermal Interface Materials Industry
Thermal Interface Materials Global Market Report 2021: COVID-19 Impact And Recovery
The Business Research Company’s Thermal Interface Materials Global Market Report 2021: COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, March 16, 2021 /EINPresswire.com/ -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:
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The increasing demand for electronic devices is anticipated to boost the thermal interface materials industry demand over the coming years. Growing usage of thermal interface materials in electronic devices such as tablets, computers, smartphones, and video games attributing to their thermal conductive properties that help in strengthening the efficiency and life of electronic devices is expected to contribute to the market growth. According to the India Brand Equity Foundation (Ministry of Commerce & Industry, Government of India), the Indian appliance and consumer electronics (ACE) market reached $10.93 billion in 2019 and is projected to double to reach $21.18 billion by the end of 2025. Therefore, the surge in demand for electronics devices and appliances is expected to generate higher revenues for the thermal interface materials market.
Major players in the thermal interface materials market are The 3M Company, Zalman Tech Co. Ltd., Wakefield-Vette Inc., Indium Corporation, The Berquist Company Inc., Momentive Performance Materials Inc., Laird Technologies Inc., DOW Corning Corporation, Parker Hannifin Corporation, Henkel AG & Co. KGAA, Fujipoly, DK Thermal Metal Circuit Technology Ltd., AI Technology, AIM Specialty Materials, AOS Thermal, Denka, Universal Science, Dymax Corporation, Ellsworth Adhesives, Enerdyne, European Thermodynamics Ltd, Inkron, Kitagawa Industries, LORD, MA Electronics, MH&W International, Minteq, Parker Chomerics, Resinlab, Schlegel Electronics Materials, and ShinEtsu.
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The global thermal interface materials market size is expected to grow from $1.78 billion in 2020 to $1.97 billion in 2021 at a compound annual growth rate (CAGR) of 10.42%. Thermal interface materials market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.06 billion in 2025 at a CAGR of 11.72%.
The global thermal interface materials (TIM) market is segmented by type into greases & adhesives, tapes & films, gap fillers, metal-based TIMs, phase change materials, others, by chemistry into silicone, epoxy, polyimide, others, and by application into telecom, computer, medical devices, industrial machinery, consumer durables, automotive electronics, others.
Thermal Interface Materials Global Market Report 2021: COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides thermal interface materials market overview, forecast thermal interface materials market size and growth for the whole market, thermal interface materials market segments, and geographies, thermal interface materials market trends, thermal interface materials market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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